banging the drum. the more I learn the less I know.

Sydney, New South Wales
Joined July 2011
I have also competed in the gaslighting olympics. It sucks but also everyone thinks the also contributed more than they should. Gud article.
From the archive...on adverse selection in your career
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Never understood why VC money wants prop money. Strategies that are capacity constrained don’t need more. Have seen some opportunities float around. People don’t understand that money really isn’t an issue. It’s the talent. And why would someone leave a high paying role.
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For a VC backed prop firm. If you were really good why would you want to leave. If you want to get backed there’s plenty of prop firms/family office that would want to back. It’s adverse selection all the way down. Not talking about raising from VC to get access.
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having been on multiple desks I cannot emphases the importance of continuing to improve the trade. having personally been on desks trading very similar variants of strategies, its always interesting to see how widely pnl varies from the firms have put in to bettering the trades
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vs those who haven't. those who haven't have had their desks shut down or profitability continuously go down. not even talking from a tech edge angle, but it could be better modelling or even broker relationships or newer markets. in the end everyone is trying to
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maximise their ev relative to each other. to last a long time you need to be able to innovate or else you will fall behind quickly.
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When a storm in NY is the great equaliser
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Everyone’s feed (including myself) is slow af
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You know it’s over when you cannot even chuck a poo in peace without trading alerts buzzing constantly
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Some thoughts are in competitive/liquid markets things are priced relatively correct/well but edge really is understanding circumstances where predicting where temporary mispricing can happen and quick enough to convert opportunities.
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If a product leads then should correlated instruments have the same book shape as the laggards
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Ffs they better not take the links private
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Optiver is coming into cash equities lmao
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Globex has been halted *checks notes* because the data centre has overheated CME the best
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strange things happen when you go around the twist Inspiration from linkedin.com/pulse/future-in…
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how to get completely reemed with the slv premium/discount
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